Booming Tech Market

Seattle’s expanding tech market has led to record population growth within the Seattle area. This influx of people moving to Seattle has not coincided with a relative increase in housing construction, leading to a limited supply of housing in a demanding market and ultimately driving home prices up.

According to Redfin, the number of tech workers in Seattle increased by 21-percent between 2014 and 2015. The Redfin report also found that for every 1-percent increase in the population of tech workers in Seattle, home prices rise by half a percent.

Chinese Investors

New foreign buyer taxes in Vancouver, BC has led Chinese investors to seek properties south of the border and Seattle has become the center point for their focus. Compared to Vancouver, BC, Seattle has a much lower median home price and the area is ripe with opportunities for Chinese investors who, according to RSIR broker Mei Yang, are seeking to diversify their assets as the Chinese real estate market cools off and Chinese currency is being devalued.